PM Lawrence Wong warns of 'new storm' amid rising US-China tensions, trade barriers in May Day Rally speech

Prime Minister Lawrence Wong warned of turbulent times ahead for Singaporeans as US tariffs threaten to disrupt both economic and geopolitical relations in his May Day Rally speech on Thursday (May 1).

In his first speech at the May Day Rally as prime minister, PM Wong addressed a crowd of over 1,600 union leaders, tripartite partners, and guests at Downtown East on Labour Day, which also coincides with the last day of campaigning for GE2025.

"This year, we have a double celebration, May Day and SG60. And we have every reason to rejoice. Look at how far we've come in Singapore these last 60 years," he said.

"It wasn't always an easy road. We've had our ups and downs. But through it all, we stood together, we stood united."

He then pointed out the Singapore today is a testament to the dedication and resilience of workers in Singapore and unions. 

PM Wong then warned that "just as we thought we were entering calmer waters, now a new storm emerges," he said, in reference to the tariffs imposed by US president Donald Trump on April 2.

He cautioned that the uncertainty caused by the tariffs is significant and that "it's not changing back anytime soon".

"Trade barriers are going up and the rules keep shifting," he added, citing increasing tensions between China and the US due to the "sky-high" tariffs between them.

Singapore will come under greater scrutiny

PM Wong warned that Singapore will come under greater scrutiny, and that it will take experience and skill to navigate these very pressures, particularly relations with China and the US.

"It will take people in Government who have built up trust and close relationships with their counterparts. These relationships take time to build. You can't do it overnight," he said, emphasising that the loss of key ministers cannot be trivialised - something opposition parties have treated "so lightly".

He likened the loss of key ministers to the loss of star players in a football team.

"And it will be so in our next Cabinet if we end up with such a loss; and that means we cannot have as an effective a team working for Singaporeans and Singapore," he said.

Jobs will be impacted

PM Wong also spoke about the impact that tariffs will have on jobs.

"The storm is already here; we are already experiencing turbulence, and it may well get worse."

He also mentioned Deputy Prime Minister Gan Kim Yong, chair of the Economic Resilience Taskforce, as well as Second Minister for Trade and Industry Tan See Leng who have been in contact with trade counterparts to work on solutions for Singapore.

"Others may say, 'don't worry, it's okay, let's take this chance to rock the boat'. But we will never take such risk with your lives, or our future," said Wong, promising that the People's Action Party (PAP) government will always look to the future in devising plans.

Helping companies transform

PM Wong said the Government will also help Singaporean companies to restructure and transform, citing Grab and Razer as local brands that have established themselves within the region.

They will also do more to help SMEs scale up.

"There are many Government schemes that they can tap on to help them transform, improve productivity, and expand overseas," he said. 

Judge me and my team fairly: PM Wong

Concluding his speech, PM Wong appealed to the audience to reflect on the PAP government and how they have led Singapore.

"Judge me and my team fairly," he said, promising that the PAP will support the Labour Movement regardless of the outcome on May 3.

"The road ahead will not be easy. The winds will be strong. The seas will be rough."

dana.leong@asiaone.com

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